Metro Denver is experiencing a Seller’s Market right now – defined by fewer homes on the market than there are Buyers; in other words, a housing shortage. Because of this exciting state of affairs, home builders have reinstated projects halted during the lowest point of the economic downturn, and begun work on new residential projects as well to meet the demand for homes unmet by current inventory.
Are you considering a home purchase? Have you been wondering whether a home with history and character or a brand-spanking-new home is the right place for you? There are pros and cons in either direction. This article is part one of a series: This Old House vs. New Construction.
The PROS of New Construction include:
• Contemporary style – finishes will likely follow today’s trends
• Possible design options during construction phase
• Cheaper to maintain (new appliances = fewer repairs)
• Cheaper to operate (energy-efficient construction)
• Extended warranties may be available/included
• A cohesive neighborhood (consistent layout, common areas)
• That “new car” smell: fresh paint & flooring, the cleanest appliances you’ll ever see
• Frequently have a homeowners association (helps protect resale value)
The PROS of Resale Homes include:
• Availability: More choices, more styles to choose from
• Lower price: It’s not new anymore
• Price may be more negotiable than new construction
• Track record: Many repairs already made – you can learn from the house’s established repair history
• Established neighborhood
• More mature landscaping
• Location, location, location – resale homes are everywhere, new construction may not be available in your top neighborhood
One important factor in the success of your next purchase is the expert you work with. Whether you are ready to sign on the dotted line or just tipping a toe in the waters of home purchase, I’m here to help. I can represent you in the purchase of a resale property or brand new construction to ensure your interests, and bottom line, are both taken care of.
Call me or drop a line – I’m here to help.
The Meyers Group